NICOLET BANKSHARES INC (NIC) FY2025 10-K Annual Report
NICOLET BANKSHARES INC (NIC) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 27, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
NICOLET BANKSHARES INC FY2025 10-K Analysis
Business Overview
- • Core business: Community banking with lending and deposit services
- • Emphasis on expanded share repurchase program, $76.6M repurchased in 2025 vs $10.1M prior year
- • Strategic capital management focusing on stock repurchases, organic growth, acquisitions, and dividends
- • Total risk-based capital increased to $1.11B with total capital ratio improving to 14.8% from 14.3%
- • Board approved $60M increase to common stock repurchase authorization in January 2026
Management Discussion & Analysis
- • Revenue $392M total net interest ($306M) + noninterest income ($86M), net interest income up 14% YoY (+$38M) from $268M in 2024
- • Operating margin (net interest margin) 3.76% in 2025 vs 3.47% in 2024, return on average assets 1.68% vs 1.45%, return on common equity 12.58% vs 11.27%
- • Best segment: Net interest income growth driven by loans $6.8B (+3%) and deposits $7.7B (+4%); worst segment: loan provision up modestly to $4.3M from $3.9M
- • Cash flow/capital: repurchased 646,000 shares; increased dividend by 14%; total assets grew $388M (4%) to $9.2B; stockholders’ equity up $85M to $1.3B
- • Forward outlook: focus on integrating MidWest One acquisition doubling branches; 2026 results may show merger accounting noise but core profitability expected to remain top quartile
Risk Factors
- • Regulatory risk from banking and securities laws, ongoing compliance costs with U.S. banking, deposit, insurance, and securities regulations
- • Geographic concentration risk with 77% of loans commercial-related, focused in Wisconsin, Michigan, Minnesota markets
- • Credit risk from small to medium-sized business borrowers in core industries like manufacturing and agriculture, vulnerable to economic downturns
- • Public health disruption risk including COVID-19-like pandemics causing economic, transactional, and operational instability in hospitality and restaurant clients
- • Allowance for credit loss (ACL) adequacy risk; regulatory agencies may require increases impacting net income and capital levels
NICOLET BANKSHARES INC FY2025 Key Financial MetricsXBRL
Revenue
$471M
▲ +7.4% YoY
Net Income
$151M
▲ +21.5% YoY
Net Margin
32.0%
▲ +370bp YoY
ROE
12.0%
▲ +140bp YoY
Total Assets
$9.2B
▲ +4.4% YoY
EPS (Diluted)
$9.78
▲ +21.5% YoY
Operating Cash Flow
$154M
▲ +14.8% YoY
Source: XBRL data from NICOLET BANKSHARES INC FY2025 10-K filing on SEC EDGAR. All figures in USD.
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